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Key Tips For Dental Students

KaVo Kerr Connections

KaVo Kerr

Key Tips For Dental Students

If you are currently looking for a student loan then here are things which you need to think about carefully before committing yourself to a loan:

1. Begin your search by looking at the award letter for your dental course and calculate just which need based loans you can apply for and how much money these loans would give you.

2. Look at your total financial picture including things like your dental education costs, the availability of any scholarship or grant money and money which will be provided by your family and then calculate how much money you need to borrow.

3. Do Not borrow more than you need. "Regardless of the amount of money that a lender offers you, never borrow more than you need for your short and medium term needs.", says Olivia Prescott, an education expert from Sky-Writer.

4. Look at working as an alternative, or supplement, to borrowing. While working at a job while you are attending college might seem like an additional burden it could well be far better than struggling with high repayments on your loans after college.

5. Apply for a student loan as soon as you can. You want to make sure that you get the loan you need and that your money is in place before your bills start arriving, so do not hang around once you know how much you need to borrow and go ahead and get your application in without delay.

6. Be careful to follow the instruction on any loan application to the letter as mistakes may well result in your application being rejected or to a delay in you receiving your money.

7. When you are applying for Direct student loans you ought not to be surprised when the amount you receive is lower than the amount you applied for as a fee of about 4% will be deducted from your loan before the loan check is sent out to your college.

8. As soon as you take your first student loan you should start to keep a track of borrowing so that you know what your monthly repayments are going to be in the future. It is easy to get lulled into a false sense of security while you are attending college and not making repayments, but you could be in for a shock once you have graduated and have to start making monthly repayments. You will find that are a number of student loan calculators available which will do the complicated math for you.

9. If, having taken on the maximum amount of federal loan debt, you find that you need to take out further loans from a private lender then you need to seek professional advice before starting your search for that additional funding.

10. If you decide to take on additional private loan funding then you will have to carefully rework your budget to account for the servicing of any additional loans while you are in college.

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